Auction Market Design: Recent Innovations

IF 6.8 2区 经济学 Q1 ECONOMICS
Paul R. Milgrom
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引用次数: 14

Abstract

Market design applies economic principles to the often messy problems of real-world exchange in which goods may not be homogeneous, the identities of trading partners may matter, contracts may not be executed, and even the formulation of trade as balancing supply and demand may be unhelpful. This article recounts the mostly academic research advancing the analysis and design of such markets. Among the highlighted applications are ones involving financial markets, Internet advertising, electricity auctions, spectrum auctions, cryptocurrencies, and combinatorial procurements.
拍卖市场设计:最新创新
市场设计将经济原则应用于现实世界交换中经常出现的混乱问题,在这些问题中,商品可能不是同质的,贸易伙伴的身份可能很重要,合同可能无法执行,甚至将贸易视为平衡供需也可能于事无补。本文叙述了学术界对此类市场分析和设计的主要研究。突出的应用包括金融市场、互联网广告、电力拍卖、频谱拍卖、加密货币和组合采购。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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来源期刊
CiteScore
9.70
自引率
3.60%
发文量
34
期刊介绍: The Annual Review of Economics covers significant developments in the field of economics, including macroeconomics and money; microeconomics, including economic psychology; international economics; public finance; health economics; education; economic growth and technological change; economic development; social economics, including culture, institutions, social interaction, and networks; game theory, political economy, and social choice; and more.
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